East Point reports $33m turnover

Romanian Trading Point, the Romanian unit of regional grain trader East Point, which has shareholders in Serbia and Montenegro, last year saw its turnover increase to 33 million dollars (25 million euros), double the amount the year before. “The 2003/2004 agricultural year was a totally atypical year for Romania due to the wheat crisis, but the market rallied somewhat in the second half of the year with good harvests,” said Dejan Majtorovic, managing director of Romanian Trading Point (RTP). He says the Romanian grain market has changed a lot over recent years. “Production is rising by the year, and the quality of Romanian grain is much higher. There is discipline in concluding contracts and agricultural producers have invested significant amounts. After EU integration, Constanta harbour will become a point for grain exports from the EU and mainly from Romania,” said Majtorovic. He predicts that Romania will enjoy normal meteorological conditions this year, with a wheat harvest of between 6 and 7 million tonnes. “This year, exports should be higher than last year, since in 2004 a number of companies took wheat from the State Reserve and then subsequently gave it back, reducing the quantities available for export (…).” ZF